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After vowing last week to seek presidential review of a Committee on Foreign Investment in the U.S. (CFIUS) recommendation that it divest U.S. technology firm 3Leaf Systems, Chinese telecom equipment firm Huawei Technologies said Monday that it would withdraw its request to retain 3Leaf, admitting: “the significant impact and attention that this transaction has caused were not what we intended.”
Network equipment maker 3Com said Wednesday that it had shelved (at least temporarily) plans to sell itself to private equity firm Bain Capital and to Huawei Technologies of China as a result of the parties’ inability to reach a mitigation agreement with the Committee on Foreign Investment in the United States (CFIUS) concerning the national security implications of the deal
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Jurisdiction - USA
Jurisdiction - China
Workarea - Corporate Finance/M&A
Workarea - Telecommunications
Firm Name - Paul, Weiss, Rifkind, Wharton & Garrison LLP
